Integrated Production Forecasting for Business Planning

Abstract Field development planning activities depend on realistic oil and gas production forecasts which are a key input to project economics and subsequently influence business decisions. Several tools and approaches to the generation of these production forecasts exists ranging from simple spreadsheets to complex 3D reservoir models hooked up to surface network models in an integrated production system approach. In large Asset based International Oil Companies, with thousands of wells and reservoirs underpinning different projects at different stages of field development, limited resources including funding, processing and evacuation facilities, there arises a need to have an integrated company production forecast that ties the individual projects production forecasts together while honoring identified constraints and obligations such as gas contracts. This paper explains the strategy in meeting the above objective of achieving an integrated hydrocarbon production forecast to support business planning decisions.